Meaning of e-banking
E-banking is a system that provides various online banking services to customers using the internet and telecommunication network. This is a means through which customers are able to access their bank account online and perform various financial transactions via the internet.
Objectives of e-banking
To Attract Customers
one of the important objectives of e-banking is to attract customers. E-banking is helping the customers by providing online services. it is attracting the customers and making the banking system easier.
To Provide Liquidity
E-banking helps to provide liquidity to the banks, because consumers do online transactions, which means there are no withdrawal of physical money. So, E-banking to provide liquidity.
To Boost Economy
E-banking helps to boost the economy, Because online transaction helps to maintain the cash in the economy, which would be use during recession of the economy.
To Provide 24/7 Service
The world economy is growing, people are doing business globally. it require 24*7 banking service. E-banking doing the same, to provide 24*7 service. it is one of the important objectives of e-banking.